We are buyers towards 1.0855. | 30 May 2022

Wave Analysis;

This pair has been trading within the upper and the lower trendline for sometime now in an uptrend. During the previous trading days, the price bounced off from the upper trendline towards the lower side at the corrective wave cycle four. As at now the price is around the lower trendline, I expect a rebound from 1.0758 towards the upper trendline at 1.0855 or even much higher in continuation of the impulsive wave cycle five. On the flipside, should the price break below the lower trendline, then 1.0720 would be a good place to pick a sell from with the first ideal target at 1.0450.

Trade Recommendations:

We are buyers towards 1.0855.